I’m not doing that

Dear Dave,

My wife and I are empty nesters, and our house is too big for just the two of us now. We talked about selling the house and moving into an apartment in a multi-use development with retail and restaurants that we go to several times a week. Then, in a year or so, buying a smaller house when housing prices go back down. How do you feel about this idea?

Ephraim

Dear Ephraim,

I like the idea of downsizing. My wife and I did the same kind of thing recently. But at this point, I’d say there’s about a 99% chance the housing market is not going down. It has gone down two times in the last 100 years — way back during the 1930s and again in 2008. And the market snapped back fairly fast after 2008.

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